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RIMS – CRMP LATEST EXAM STUDY GUIDE QUESTIONS AND 100% CORRECT ANSWERS | A+ GRADE
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RIMS – CRMP LATEST EXAM STUDY GUIDE QUESTIONS AND 100% CORRECT ANSWERS | A+ GRADE
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RIMS – CRMP LATEST EXAM 2024-2025STUDY GUIDE QUESTIONS AND 100%
CORRECT ANSWERS | A+ GRADE
A business model is a set of assumptions about the
Correct Answer way an organization creates value
What two analytical tools are particularly useful in
analytical tools for analyzing the business model? Correct
Answer Value chain analysis and benchmarking
Risk Management professional conduct supply-chain
analysis to identify Correct Answer potential vulnerabilities
to the organization
Which activity does the risk management professional
perform immediately after obtaining internal and external
information about the organization? Correct Answer
Organize the information
The organization's resources and internal support
are__________________ the risk management strategy
Correct Answer inputs in the development of
When defining the success measures for the
organization's risk strategy, the risk management
professional will include which of the following steps?
Correct Answer A review of the goals and objectives of the
risk strategy
,Which of the following is considered a risk analysis
technique? Correct Answer Monte Carlo Simulation
When an operational area develops a treatment for a
critical risk, the risk management professional MUST
Correct Answer evaluate the impact upon other areas
A risk management professional advises management on
the status of key risks by Correct Answer providing
insights into the changing characteristics of a risk
After validating the training curricula, a risk management
professional Correct Answer schedules and conducts
training.
What is the role of risk management in the strategic
planning process Correct Answer identify threats and
opportunities.
What should be evaluated that may dramatically impact
the organization's strategic goals? Correct Answer effect
of significant acquisitions, organizational and process
changes, other changes
How can risk management professionals gain insights into
organizational performance related to the effectiveness of
the organizational risk management? Correct Answer
evaluating metrics and reports that result from a
disciplined and informed risk management process
,How can risk management professionals gain credibility
and engagement with key stakeholders Correct Answer
validating insights with key stakeholders
priorities Correct Answer Monitoring risk process: setting
_______ based on desire performance
performance objectives Correct Answer Monitoring risk
process: developing risk metrics integrated with
_______________
monitoring schedules Correct Answer Monitoring risk
process: Establishing _________________ to check
progress over time
expected value of the of the collective objectives Correct
Answer Monitoring risk process: validating whether the
___________________ from making risk-informed
decisions and implementing risk solutions have been
achieved
Benchmarking Correct Answer The process of measuring
the performance of an organization against external
standards of reference that frequently come from similar
organizations doing similar things.
Corporate Governance Correct Answer The system of
rules, practices and processes by which a company is
directed and controlled.
, Enterprise Risk Management Correct Answer A strategic
discipline that supports the achievement of an
organization's objectives by addressing the full spectrum
of its risk and managing the combined impact of those
risks as an interrelated risk portfolio.
Gap Analysis Correct Answer Comparison of an existing
process or procedure to recognize standards in order to
identify deficiencies or excesses in the existing process.
Key performance indicator (KPI) Correct Answer As
activity that signals the achievement of organizational
objectives, emphasize opportunities and strategic
objectives.
Key risk indicator (KRI) Correct Answer designed to
manage downside risk. A measurement of how risk and
volatility relate to achieving organizational objectives,
PESTLE Analysis Correct Answer PESTLE is an acronym
for Political, Economic, Social, Technology, Legal and
Environmental and identifies the categories utilized to
analyze internal and external environments. Other forms
of the acronym include "PEST" and "PESTEL."
Risk Correct Answer The effect of uncertainty on
objectives.
Risk Appetite Correct Answer The total exposed amount
that an organization wishes to undertake on the basis of
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